1. Settlements & Reconciliations
2011 – 2012
Achievements
Global

2. Meetings Physical Meetings Conference Calls
Spring 2011: Rio (full SMPG)
Autumn 2011: Prague (S&R)
Spring 2012: Athens (full SMPG)
Autumn 2012: Osaka (S&R / CA)
Conference Calls
5 – 6 per year Once a month

3. Achievements Global Market Practices: Depository BIC List
Add link to See smpg website for more information
Depository BIC List
Local Market Practices for 35 Countries
Regional Groups: ESES, Nordics, South-America
Specify specifics for the plain vanilla settlement instruction per country
Settlement Instruction Summary sheet
Minimum: specifics for plain vanilla trades
Some countries e.g US extensive description of all kinds of transactions
Summary sheet: summary of country market practices in matrix form

4. Global Market Practices (highlights)
Settlement Common Elements
Place of Settlement / Place of Safekeeping
Statement of Holding (MT535)
Statement of Transactions (MT536)
Status Reporting (MT548 / MT537)
Linkages
Common Elements: minimum list of elements needed in every transaction
PSET / PSAF : X-border / CSD transactions. Variations for scenarios between ICSD and NCSD.
Heated discussions
St. of Hold: mix of custody statement (reconciliation) and accounting. ISO statements, End of discussions?
Status Reporting: Flow diagram of lifecycle of a transaction between moment of instruction and settlement
Linkages: All situations where linkages are used
Simple ones (cancellation, settlement confirmation, status advice)
Complicated: pair off, turnaround, block trade, book transfer

5. 2011 – 2012 Achievements
Finalized Global Market Practice Documents (New or Revamp)
MT536 - SecuritiesSettlementTransactionPostingReport_V5.8_
Physical Settlement
MT535 - Balance Custody and Accounting Report_v5.3.pdf
Receiving Delivering Depository - PSET PSAF MP v5.4
S&R Basic Sec lending/borrowing v1.7
Global Time Deposit SMPG v2.4
S&R Book Transfers v6.0
Common Elements: minimum list of elements needed in every transaction
PSET / PSAF : X-border / CSD transactions. Variations for scenarios between ICSD and NCSD.
Heated discussions
St. of Hold: mix of custody statement (reconciliation) and accounting. ISO statements, End of discussions?
Status Reporting: Flow diagram of lifecycle of a transaction between moment of instruction and settlement
Linkages: All situations where linkages are used
Simple ones (cancellation, settlement confirmation, status advice)
Complicated: pair off, turnaround, block trade, book transfer

6. 2011 – 2012 Achievements Finalized Global Market Practice Documents
S&R Linkages v5.2
S&R Pair Off v4.1
S&R Settlement Allegement v6.0
S&R Split v4.1
S&R_Financial Instrument Identification_MP_v1_0
Securities Settlement Transaction Pending Report MP v7.0 -> BUT one pending item related to the Cancelled transaction (see agenda)
Common Elements: minimum list of elements needed in every transaction
PSET / PSAF : X-border / CSD transactions. Variations for scenarios between ICSD and NCSD.
Heated discussions
St. of Hold: mix of custody statement (reconciliation) and accounting. ISO statements, End of discussions?
Status Reporting: Flow diagram of lifecycle of a transaction between moment of instruction and settlement
Linkages: All situations where linkages are used
Simple ones (cancellation, settlement confirmation, status advice)
Complicated: pair off, turnaround, block trade, book transfer

7. 2011 – 2012 Achievements MyStandards
Global MP’s loaded on MyStandards
Reviewed and published
S&R Common Elements
Hold and Release
Automatic Registration
-> feedback from SMPG members has been discussed during the session on MP granularity (share with group main decision on this)
Common Elements: minimum list of elements needed in every transaction
PSET / PSAF : X-border / CSD transactions. Variations for scenarios between ICSD and NCSD.
Heated discussions
St. of Hold: mix of custody statement (reconciliation) and accounting. ISO statements, End of discussions?
Status Reporting: Flow diagram of lifecycle of a transaction between moment of instruction and settlement
Linkages: All situations where linkages are used
Simple ones (cancellation, settlement confirmation, status advice)
Complicated: pair off, turnaround, block trade, book transfer

8. 2011 – 2012 Achievements Securities Financing Subgroup
“The goal of this SMPG market practice sub-group is to define best practices for the communication of security finance instruction, status, confirmation and reconciliation messages covering the business and messaging process for bi-lateral repo, tri-party repo, and global lending. This group works collaboratively with other industry and NMPG groups to define MX messaging and data content best practice recommendations.  The initial focus of the sub-group will be to define the best practice for MX messaging flows of a bi-lateral repo contract, associated collateral and related cash.”
-> Initial meetings explained the objective of the sub group -> should reconvene when MP Repo finalised (to be checked with Jason)
Common Elements: minimum list of elements needed in every transaction
PSET / PSAF : X-border / CSD transactions. Variations for scenarios between ICSD and NCSD.
Heated discussions
St. of Hold: mix of custody statement (reconciliation) and accounting. ISO statements, End of discussions?
Status Reporting: Flow diagram of lifecycle of a transaction between moment of instruction and settlement
Linkages: All situations where linkages are used
Simple ones (cancellation, settlement confirmation, status advice)
Complicated: pair off, turnaround, block trade, book transfer

9. Ongoing and Future Developments
New Subjects
Securities Financing: Process Redesign related to ISO20022
Post Trade Flows (CCP / Bilateral Clearing)
MyStandards
Any other MP that needs to be described/revised
Revision of translation Rules (ISO15022/20022) -> SR2013
Consultation with PMPG
Creation of MP of Securities related Cash / FX Processes
Work Closely with NMPGs to harmonise Local S&R MP’s
Potential changes to MPs under T2S umbrella